Tanzania: AFDB Ups Tanzania Road Funding by U.S. $100 Million
Dar es Salaam – The African Development Bank (AfDB) has said it is expected to increase fund for roads construction to $650m by the end of this year.
AfDB is in the final stages of processing the financing for the Arusha-Holili/Taveta-Voi Corridor, which at completion will facilitate cross-border trade and support the integration agenda of the East African Community, the bank said last week.
Beer Company in Sh2.5 Billion Expansion Plan
Keroche Breweries has embarked on a Sh2.5 billion expansion of its Naivasha brewery. This is party of the company’s plans to boost its market share to 24 per cent by 2014.
The ultra-modern plant, which is expected to be ready next December, will increase the firm’s production capacity to 600,000 from the current 60,000 daily.
Rwanda: MPs Approve Rwf96 Billion Loans for Roads
Parliament has ratified three agreements paving way for government to borrow on concessional terms to the tune of USD 153 million (Rwf96 billion) for the construction of the Rusizi – Karongi road which is part of the greater northern corridor.
Two of the agreements were signed between government, AfDB and Exim Bank of China in respect of credit lines worth USD 40.5 million (Rwf25.4 billion) and USD 113.4 million (Rwf71.2 billion) respectively.
Pharmaceutical Industry to Construct Modern Factory
THE Tanzania Pharmaceutical Industries (TPI) is constructing a state-of-the-art factory in Arusha at the cost of 5 million Euros that will, among other things, triple production and double employment.
